ElringKlinger AG Showcases Growth and Enhanced Financial Performance in 2023 Preliminary Results

ElringKlinger AG, based in Dettingen/Erms, Germany, announced its preliminary results for the fiscal year 2023, highlighting a period of financial growth and operational efficiency. The company's revenue saw an increase of 2.7%, reaching EUR 1,847 million compared to EUR 1,798 million in 2022. Adjustments for currency effects reveal an organic revenue growth of 4.6%. These figures signal a record performance for the company, overcoming a sluggish start caused by reduced order volumes and unfavorable exchange rate fluctuations.

Adjusted EBIT for 2023 stood at EUR 100.1 million, a significant boost from the previous year's EUR 68.4 million, aligning the adjusted EBIT margin to 5.4% from 3.8%. This growth meets the upper end of the company’s guidance. Operating free cash flow increased substantially to EUR 36.7 million, up from EUR 14.8 million in 2022. Moreover, the company managed to reduce its net financial debt to EUR 323 million, thereby lowering the net debt/EBITDA ratio to 1.6.

Thomas Jessulat, CEO of ElringKlinger AG, reflected on the year's performance, emphasizing the resilient and flexible position of the company amidst a fluctuating economic landscape. This achievement paves the way for continued transformation and growth. ElringKlinger AG's comprehensive and audited financial results for 2023, alongside the annual report and future outlook, are scheduled for release on March 27, 2024.